New ebay payments require SS#?

@mtrot 

In the case where you don't have the receipt for a piece of gear you simply estimate it's original value. In 99.999% of the cases you lose money on the transaction.

This whole thing will only be an issue if you get audited. You will report no income from your audio sales on your 1040 and the only way the IRS would challenge that is if they audit you - and even then they wouldn't waste time worrying about a piece or two of stereo gear.

The only time a regular taxpayer who's not claiming bizarre deductions (under $200k income) gets an audit is if they win the IRS lottery and get a TCMP (Taxpayer Compliance Measurement Program) audit that goes through your return line by line. Most people go through their lifetime without ever getting an IRS audit. That means that the IRS takes your word for it when you file a tax return. It really is the honor system. If you claim that you received no income from selling your stereo gear then that is what the government will base your taxes on. You do not have to supply supporting documentation with your tax return.

Also, most people don't realize that the IRS us understaffed and they don't have the time to worry about nickels and dimes from regular taxpayers. Their decisions, virtually all the time, are based on common sense. If you inherited a 1970's vintage Marantz 2325 receiver that you sold for $1500 and have no receipt the auditor isn't going to waste time trying to research what it originally cost. The other interesting thing about inheritance is that you don't pay taxes on what you inherit - so there's no issue with that anyway.

In other words, don't get wrapped around the axle worrying about the tax implications of being an audiophile.

@8th-note,Good to know.  I inherited from my father a near mint vintage Breitling watch a few years ago.  For some reason, he never wore it much.  I had no idea what it was worth; I put it on ebay and you can't believe how much some people will pay for those watches! 

Expecting something to stay on topic here is like waiting for Tinkerbell to sit on your shoulder and advise which stock to buy/sell....

I don't object (more or less) to the police.
I do question shooting someone in the back of the head when shooting a tire or two is less permanent....or distressing.

Paying taxes isn't my main issue with that, what gets done with it is.

I have no problem with those of a conservative bent.  It's those that think that 1/6 was a bunch of rowdy tourists IS.

I'm a business owner, so hold your gripes towards me and about how mistreated the billionaires get leaned on...finally.

'Trickle down' only works when you don't make it to the restroom.
Otherwise, it's BS.

The only time I cough up my SS#  is on med or that which I normally expect to have to.  Over the 'net for anything else, NO.

We only use the 'net for 'client contact'; beyond that, it's direct 'twixt them and us.  Beyond that, 50% down or no go.  You don't cough the balance?

I'll show up and remove 50%, usually how to enter whatever.
The threat to do so is enough.
Disappointing children is a big enough fear, parents?  Oh, boy... ;)

Well, according to this, the Dems are changing the reporting threshold to $10,000.  I wonder if that will mean online selling sites like eBay will not be sending you and the IRS a 1099 form for sales over $600?

I, from time to time, sell some item of audio gear for well more than $600, and I don't consider that to be income at all, since I not only paid taxes when I bought it and usually sell it for less than what I paid.
https://justthenews.com/nation/economy/democrats-pare-down-treasurys-irs-bank-reporting-plan-raise-t...

The new threshold starting in 2022 is still $600 in gross sales on any online selling platform, or any type of 3rd party payment processor.  So if you already sold $600 or more online, you are getting a 1099-k in January/February 2023.  

The IRS is also hiring more auditors, so if people in the past have not reported their online sales, getting that 1099-k for the 1st time, could trigger an audit.  The best thing to do is not get a 1099-k.